Poland's biggest oil company ready in case of ban on Russian oil, says CEO

"If the EU imposes a ban on Russian crude oil, PKN Orlen will comply with such a decision," Daniel Obajtek told PAP on Monday. "We can do this at any time, as we are well prepared." Adam Warżawa/PAP

PKN Orlen, Poland's biggest oil and gas company, is well prepared for any scenarios that may arise from a possible embargo on Russian crude oil, the company's CEO has told PAP.

"If the EU imposes a ban on Russian crude oil, PKN Orlen will comply with such a decision," Daniel Obajtek told PAP on Monday. "We can do this at any time, as we are well prepared."

Obajtek added that PKN Orlen was also ready for a situation in which the EU limits the purchases of Russian oil.

"We have been preparing for full diversification. We will surely not support war operations," Obajtek said.

He explained that PKN Orlen's refineries had been fully adjusted to process not only Russian crude oil. "Today's level of diversification amounts to 70 percent," he added.

Obajtek pointed out that some of PKN Orlen's contracts for Russian oil were set to expire in 2023.